S. 271(1)(c) : Penalty – Concealment – Alleged wrong claim of deduction – Claim was allowed – Deletion of penalty is held to be justified. [ S.. 10B ]
S. 271(1)(c) : Penalty – Concealment – Alleged wrong claim of deduction – Claim was allowed – Deletion of penalty is held to be justified. [ S.. 10B ]
Dismissing the appeal of the revenue the Court held that the assessee had correctly claimed the deduction under section 10B which was ultimately allowed and, therefore, there was no question of levy of penalty. Referred CIT v. Sesa Goa Ltd ( 2021 ) 436 ITR 17 ( Bom)(HC) ( AY.2009-10)